Company: Wragge & Co LLP
Published: 09 May 2013
The government hopes that transferring regulatory responsibility for consumer credit and second charge mortgages from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) will ensure a tougher approach to the current consumer credit regime. The FCA will ensure that the financial markets function optimally and provide all necessary protection for consumers.
This white paper reviews how the transfer of regulatory control of consumer credit and second charge mortgages to the FCA will impact the financial industry and consumers alike. You will gain insight into the new regime with particular focus on its core elements.